# The SpaceX IPO Meets a Huge Options Expiration | Brent Kochuba on What Comes Next

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Text version: https://stenobird.com/podcast/excess-returns-902655/the-spacex-ipo-meets-a-huge-options-expiration-brent-kochuba-on-what-comes-next.md
Podcast: [Excess Returns](https://stenobird.com/podcast/excess-returns-902655)
Published: 2026-06-13T18:27:46+00:00
Episode link: https://podcasters.spotify.com/pod/show/excess-returns/episodes/The-SpaceX-IPO-Meets-a-Huge-Options-Expiration--Brent-Kochuba-on-What-Comes-Next-e3koc92
Audio file: https://traffic.megaphone.fm/APO7421651191.mp3
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JSON: https://stenobird.com/v1/public/podcasts/excess-returns-902655/episodes/the-spacex-ipo-meets-a-huge-options-expiration-brent-kochuba-on-what-comes-next
Duration seconds: 4094

## Resource

In this episode of The OPEX Effect, Jack Forehand and Brent Kochuba break down the market structure impact of the SpaceX IPO, options expiration, dealer gamma, volatility, and the next major setup for the S&P 500 and Nasdaq. They discuss why SpaceX may trade more on flows than fundamentals, how call buying could create a gamma squeeze, and why June OPEX, VIX expiration, FOMC, oil, Iran headlines, and index inclusion could all collide at once. Subscribe to the OPEX Effect on Spotify⁠⁠ ⁠⁠Subscribe to the OPEX Effect on Apple Podcasts Topics covered: Why SpaceX is a flows game at the start of trading How the SpaceX IPO could affect liquidity across mega cap tech stocks Why fundamentals may not matter when index flows and forced buying dominate The role of Nasdaq, Russell, and S&P 500 index decisions in SpaceX trading How options could create a gamma squeeze in SpaceX Why dealer hedging flows can push stocks higher or lower What June options expiration could mean for the S&P 500 Why VIX expiration and FOMC create a key market window How Core1M signaled the recent volatility spasm Why expensive calls, not put buying, drove the recent market stress The key S&P 500 levels Brent is watching into OPEX How oil, rates, inflation, and Fed policy could affect market volatility Why Nasdaq options pricing is diverging from the S&P 500 How SpaceX index inclusion could widen the gap between Nasdaq and the S&P What would make Brent add protection or look for another short-term market correction Timestamps: 00:00 Opening clips and the SpaceX flow setup 05:27 Elon Musk net worth after the SpaceX IPO 07:13 SpaceX, liquidity, Mag Seven selling, and index demand 12:48 Why SpaceX may trade on flows before fundamentals 17:59 What options trading could change for SpaceX…

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